Myth Busting: ERP is for Big Business

What size is the right size of business for an ERP solution?

Small businesses have different software needs than large enterprises. Accounting applications like MYOB, Xero, and QuickBooks are sufficient for many small businesses’ needs. Likewise, Tier 3 ERP solutions like Oodo and Zoho can also work well for small businesses. ERP is usually not necessary for smaller organisations because they lack the business process complexity or employee size that would require such a solution.

As your business grows, you’ll start to face more complex challenges in managing customers, suppliers, projects, and inventory. That’s when it makes sense to look into enterprise resource planning (ERP) software. ERP systems are designed to help mid-size organisations ($10M and above in revenue) streamline their processes and become more efficient.

Let’s look at some facts, according to the Aberdeen Group:

65% of SME businesses use ERPs to manage their operations.
77% SMEs choose ERP systems over standalone platforms to help standardise back-office operations, minimise overall operational expenses and provide real time visibility into various data and insights.
Growing enterprises prefer ERP over individual solutions because of the need for a better collaboration tool (37%), scalable solution (29%), and replace old technology (24%).

As your business expands and you begin to specialise in certain areas, it makes sense to get an ERP system. This will help you keep track of your sales team, administration, finances, purchasing, and supply chain. With so many moving parts to your business, an ERP system will help you keep everything organised and running smoothly.

A well-run business has a clear understanding of its financial information, inventory count, and potential sales. This allows the company to make sound decisions on a day-to-day basis. However, sometimes this information can be hard to obtain or keep track of. In these cases, it may be beneficial to look into enterprise resource planning (ERP) software.

How ERPs facilitate business growth

ERPs (enterprise resource planning systems) are beneficial for businesses because they can help with project management, cost reduction, and efficiency.

1. Increased job accuracy and on-time delivery

2. Reduced inventory costs

3. Eliminated purchasing errors

4. Improved production efficiency

5. Lower operational costs

6. Enhanced project, cost and budget management

7. Greater financial control through budgeting and forecasting

8. Insightful analytics

There is no denying that running a business can be hectic and overwhelming at times. With so much going on, it can be difficult to keep track of everything and ensure that everything is running smoothly. This is where technology comes in handy. By automating some of your processes, you can free up time for your staff to focus on other tasks. Ask yourself … who in your staff has the time to manually manage multiple spreadsheets and separate mountains of data?

An ERP system can help to automate and streamline key business processes such as order processing, production and finance. This can free up staff time to focus on more important tasks than data entry. In fact, there are many benefits that your business can gain from having an ERP system.

When it comes to enterprise resource planning (ERP) software, there is no one-size-fits-all answer. The complexity of your business and the processes you have in place will dictate which ERP solution is right for you.

Are you ready to save time and solve the most complex challenges of your business?

OneKloudX is the perfect partner for your NetSuite implementation. Our award winning team of certified consultants can help you every step of the way, from business process analysis to go-live and beyond. Our FlexSafe™ methodology ensures that every NetSuite implementation is executed flawlessly, minimising risk, while maximising productivity and revenue growth. With OneKloudX, you can be confident that your ERP solution will be up and running smoothly in no time.